Do You Understand the Inspection Period in Tulsa, OK?

Please call us at (918) 706-9845 if you have any questions about the TRR or inspection period. 

At The Wolek Group, we want to make sure our clients are aware of all their options during the inspection period.

During this period, the buyer has 10 days (or more depending on the contract) to have the home inspected: electrical, mechanical, plumbing, etc. 

Once the inspections are complete, the buyer needs to fill out a form known as the TRR (Treatments, Repairs and Replacements) with anything that is not in working order. The TRR lists the items that were on the inspection reports that were not in "normal working order" and the buyer would like the seller to repair prior to closing. The seller has five days to collect bids on all items listed on the TRR. If the repair bids exceed what was negotiated in the contract, the buyer and seller may need to re-negotiate. 

Remember:  When the contract was negotiated, you and the seller agreed on a dollar amount they would pay for repairs. If the bids collected by the seller exceed this amount, the buyer and the seller have the option of renegotiating the contact. 

These new negotiations open the contract back up and the buyer and seller have to agree on new terms. The seller may offer to pay for all the repairs or split the difference or remove some of the items from the list. However, if you are not satisfied with any of the new negotiations, as a buyer, you have the option to cancel the contract and get your earnest money back.